Overview

• On July 30, the White House published a 160-page digital asset roadmap that outlines a unified, multi-agency framework for crypto regulation covering staking, token classification, stablecoin oversight and DeFi monitoring.
• SEC Chair Paul Atkins unveiled “Project Crypto” on July 31 to modernize securities rules, clarify which crypto assets qualify as securities and establish safe harbors for token distributions, custody and trading.
• Stablecoin rules under the GENIUS Act took effect this month, creating the first federal framework for dollar-backed tokens and assigning clear oversight responsibilities to banks and issuers.
• The administration challenged the Basel Committee’s 1250% risk weighting on tokenized assets, arguing that the United States must lead in setting international banking standards for crypto.
• Agencies have already begun drafting proposed regulations on asset classification, custody and enforcement and have urged Congress to pass the Digital Asset Market Clarity Act and update tax rules for staking and mining.